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It might be helpful to take a deeper look at the housing markets of Toronto and Vancouver - both are urban centers with a lot of employment opportunities and ho
by munk-a 5y ago
It might be helpful to take a deeper look at the housing markets of Toronto and Vancouver - both are urban centers with a lot of employment opportunities and homes owned by regular folks - but they've also both been ravaged by a plethora of investment properties which, in a self-fulfilling manner, are driving demand through the roof thus justifying more investment.
- flyinglizard 5y agoIf you asked me what keeps NYC real estate prices up, I'd say "rich people", but the dynamics of distinctive urban centers such as Toronto, London, San Francisco and others don't apply at all on a country level. It's not the same types of assets, buyers or price levels. So yes Toronto might have been influenced by rich Chinese buying properties, but does that extend to Canada as a whole?